Scottish chocolate producer Coco Chocolatier has secured new financing from Virgin Money, supported by UK Export Finance (UKEF), to accelerate its international growth strategy and refinance recent acquisitions.
Headquartered in South Queensferry, Coco Chocolatier forms part of the Made Uncommon group, which includes a portfolio of confectionery brands such as H!P, Otherly, Love Cocoa and Seed & Bean. The business was originally founded in 2004 and has been led by Calum Haggerty since 2013.
The funding package has enabled the company to refinance a short-term bridging facility that was used to acquire three additional confectionery brands — Love Cocoa, H!P and Seed & Bean. These acquisitions have significantly expanded the group, with revenues reportedly doubling over the past four months.
By restructuring this financing, Coco Chocolatier has strengthened its capital position while releasing additional funds to support further investment. The business said this will create new opportunities to expand across key international markets, including North America, Europe and Australasia.
Commenting on the development, founder Calum Haggerty said: “Refinancing the original acquisition bridging facility was an important step for the business. Over the past four months we have integrated several well-known confectionery brands into the Made Uncommon portfolio, effectively doubling the size of the group.
“The support from Virgin Money and UK Export Finance has allowed us to stabilise the capital structure while freeing up working capital to focus on growth. Our ambition is to build Made Uncommon into a leading house of premium confectionery brands, with a strong focus on export markets including North America, Europe and Australasia.”
Carol Harvey, export finance manager at UKEF, added: “UKEF’s General Export Facility is tailor-made to unlock financing for UK SMEs looking to fuel export growth. It’s brilliant to see Coco Chocolatier using one to expand into new international markets. We’re proud to partner with Virgin Money to support Coco Chocolatier, a great Scottish example of how ethical, sustainable business and international ambition can go hand in hand.”
